Vital Battery Metals Enters Option to Acquire 100% of the Sting Copper Project
August 24, 2022
Vital Battery Metals Inc. has entered into an option agreement to acquire a 100% interest in the Sting Copper Project, a ~30.6 km² land package located about 14 km south of Trout River in Newfoundland and Labrador, Canada. Under the agreement Vital will pay CAD 90,000, issue 5,000,000 common shares and complete staged exploration expenditures; the optionors retain a 2% NSR (with Vital able to buy 1% for CAD 1.5 million).
- Buyers
- Vital Battery Metals Inc.
- Targets
- Sting Copper Project
- Sellers
- Optionors (unnamed)
- Industry
- Energy
- Location
- Newfoundland and Labrador, Canada
- Transaction Type
- Buyout
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